Drake Net Worth: How and Where Does Drake Spend His Money?

To know about Drake Net Worth read the full article. Drake is a Toronto-based Canadian rapper, singer, songwriter, and actor.

Initially he recognized for his role in the teen drama Degrassi: The Next Generation, he then pursued a career in rapping.

Drake is one of the wealthiest rappers in the world and is currently signed to Young Money Entertainment, owned by Lil Wayne.

Net Worth:	$250 Million
Salary:	$70 Million Per Year
Date of Birth:	Oct 24, 1986 (35 years old)
Gender:	Male
Height:	6 ft (1.83 m)
Profession:	Actor, Singer, Songwriter, Rapper, Voice Actor, Composer, Record producer
Nationality:	Canada

Drake Early Life and Childhood

Drake was born on October 24, 1986, in Toronto, Ontario. Drake’s parents divorced when he was 5 years old, and he lived in Toronto with his mother.

His father, a drummer, relocated to Memphis after his divorce in order to find employment. Drake attended a Jewish day school and had a Bar Mitzvah because his mother was Jewish.

Drake was frequently bullied at school because of his race and religion, and he eventually dropped out.

Music Career

In 2006, Aubrey, who was now known by his middle name “Drake” as his stage name, began releasing mixtapes. He was inspired by rap icons like Jay-Z who earned record deals after achieving success as independent artists.

In February 2005, he released his debut mixtape, titled “Room for Improvement,” on his website and official MySpace page.

He was able to directly sell over 6,000 copies. The following year, he released his second mixtape, “Comeback Season.”

He released the mixtape via his newly-established record label October’s Very Own (aka OVO Records). This mixtape featured “Replacement Girl,” which became a popular underground single.

It was the first music video by an unsigned Canadian rapper to be featured on BET. One version of the song featured a sample from Brisco, Flo Rida, and Lil Wayne’s “Man of the Year.”

Jas Prince, a Houston-based producer and founder of Rap-A-Lot Records, heard the song and forwarded it to Lil Wayne. Lil Wayne was impressed and called Drake to invite him to join his Tha Carter III tour in Houston.

Drake and Wayne wrote and recorded several songs, including “Brand New,” “Forever,” and “Ransom,” as the tour progressed.

Degrassi

Drake landed a role on the long-running Canadian teen drama television series “Degrassi: The Next Generation” at the age of 15, thanks to the help of the father of a childhood friend.

On the show, he portrayed basketball superstar Jimmy Brooks, who became disabled after being shot by a classmate. He was a cast member for the first seven seasons, with 2008 guest appearances.

While Drake appeared on Degrassi, his mother fell ill and was unable to work. His paychecks from Degrassi were their only source of income for several years.

At the time, he was earning a salary of $50,000 per year from the show. After taxes, that’s roughly $2,000 per month. Later, he would describe this period as follows.

How Much Is Drake Net Worth?

Drake net worth is $250 million-dollar. One of the highest-paid entertainers in the world on a consistent basis is Drake.

Drake was a child actor who appeared on the Canadian teen drama Degrassi: The Next Generation before he became a huge rap super star.

Drake’s career earnings, before taxes and lifestyle expenses, total more than $430 million since he first achieved mainstream success. During the period of June 2017 to June 2018, Drake made $45 million.

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He made $95 million in total revenue in 2017. He made $75 million from June 2018 to June 2019. He made $50 million over the ensuing 12 months. For a complete breakdown of Drake’s annual earnings, scroll down.

Young Money Entertainment

Contrary to what you might think, Drake was not yet a signed artist to Wayne’s record company. 2009 saw the release of his third mixtape, “So Far Gone.”

On his OVO website, he offered the mixtape as a free download. The mixtape included cameos from Bun B, Lil Wayne, Trey Songz, Lloyd, Omarian, and Omarian.

The mixtape eventually received RIAA Gold certification after being downloaded 2000 times in its first hour and reaching a peak position of #2 on the Billboard Hot 100.

Eventually, the mixtape was turned into an EP, which debuted at number six on the Billboard 200 and took home the 2010 Juno Award for Rap Recording of the Year.

Drake, who was still a self-employed artist, was now in great demand in the music business. Different labels competed against each other in a bidding war to sign him.

Although it hasn’t been verified, the desperation has been called “the biggest bidding war in music history.”

Drake entered into a contract with Lil Wayne’s Young Money Entertainment on June 29, 2009. Young Money and its parent company Cash Money collaborated on the record deal, with Universal Music handling distribution.

Mainstream Achievement

On June 15, 2010, Drake’s first studio album, “Thank Me Later,” was made available. Both Canada and the US ranked the album at #1.

It reached the top spot on the Billboard 100, the R&B/Hip Hop, and the US Rap charts in the US. The RIAA eventually awarded it Platinum certification.

Take Care, his second studio album from 2011, debuted at #1 in a number of countries and eventually achieved 6-times Platinum status.

Since then, every album has received at least four Platinum awards. One of the most prominent and influential figures in hip-hop and the music industry at large is Drake.

Numerous of the biggest names in the music business, including Kanye West, Eminem, Jay-Z, and Travis Scott, have collaborated with him.

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Numerous awards have nominated Drake. At the time of writing, he had received more than 40 nominations and had won more than 180 prestigious prizes, including four Grammys.

Real Estate

Drake, who was actually born in Canada, moved to Hidden Hills, California in 2012 after paying $7.7 million in cash to the previous owner of the Saddle Ranch Bar in Los Angeles for an opulent mansion.

The property, also known as the YOLO Estate, has several homes, including a 12,000 square foot main house and a 2,000 square foot party house.

A full-sized basketball court, a sand volleyball court, a 25-person movie theater, and one of Southern California’s largest privately owned swimming pools are among the amenities on the estate.

His lagoon-like pool loops around the house’s exterior and includes a grotto in the style of a Playboy mansion, several waterfalls, a swim-up bar, and an 80-foot water slide.

Drake revealed in a Rolling Stone interview that he had his eye on this mansion for years after finding it while searching for “craziest residential swimming pools” online.

He had a picture of the pool as his computer’s background for years, which served as motivation. The home’s previous owner listed it for $27 million in 2009.

When the previous owner ran out of money in 2012, Drake jumped in and purchased it for $7.7 million: He expanded his property in 2015 by spending $2.8 million to purchase the adjacent 1.6-acre estate.

He added more space to the property in 2018 by spending $4.5 million to purchase yet another neighboring home. His private estate now includes 6.7 acres of connected land at the end of a cul-de-sac, representing a $15 million investment in real estate alone.

In March 2022, Drake put the YOLO Estate up for sale for $22.7 million. For $14.8 million, a buyer could also purchase just the main mansion.

Drake paid $6.7 million for a piece of land in the Bridle Path neighborhood of suburban Toronto in 2016. On the two acres of land, he started construction on a 50,000 square foot mansion.

The home includes a 10-car garage, an NBA-sized basketball court, a gym, an awards room, and many other amenities. 3,200 square feet are devoted to the master bedroom alone.

On March 8, 2022, it was revealed that Drake had reached an agreement to purchase the 20-acre Beverly Hills estate of British singer Robbie Williams.

According to a source who spoke with the LA Times, Drake paid “mid $70 million” in an off-market transaction. In addition, he owns a condo in Toronto’s downtown.

How and Where Does Drake Spend His Money?

Drake has put a lot of effort into building up his wealth, but his spending patterns reveal that he has a strong preference for the finer things in life.

His spending is primarily on real estate. A $7.7 million mansion in Hidden Hills, California, was purchased by Drake. Drake has amassed a sizable collection of rare automobiles.

He enjoys buying exotic and rare cars. He imports and has all of his vehicles customised. He owns a Boeing 767 aircraft. Air Drake, his own logo, has been added to the aircraft.

The plane is worth $185 million. Jewelry is one of Drake’s great interests and another luxury expense. The owl-shaped logo for his clothing line has been used on a lot of jewellery.

Drake owns a number of individually made necklaces, each of which is worth up to $100,000.

Exclusive Jet of Drake

Drake unveiled his recently purchased Boeing 767 private jet, which he has named (and painted) “Air Drake,” in a video posted to Instagram in May 2019.

Drake is seen in the video claiming that he is the sole owner of the jet, with “no rental, no timeshare, no co-owners.” A quality private jet of a comparable model would cost between $75 and $100 million.

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Drake’s Wealth Achievements

In November 2009, when Drake’s net worth was first added to Celebrity Net Worth, it was estimated to be $1 million.

Just a few months earlier, he had signed with Lil Wayne’s Young Money label. His net worth reached $25 million by 2012. He earned over $45 million by 2014. He first surpassed $80 million by the end of 2016.

He easily surpassed $100 million by the beginning of 2018 thanks to his incredible near-$100 million earnings in 2017. His net worth first surpassed $150 million in May 2019.

Business Initiatives

Drake has supported numerous well-known companies over the years, most notably Sprite, Burger King, Whataburger, Nike, and Apple.

Drake agreed to a $19 million exclusivity deal at the time Apple Music launched. Drake’s upcoming solo releases will now exclusively be available at Apple thanks to this agreement.

Drake established his own record company, OVO Sound, in 2012; Warner Bros. Records is the label’s distributor. OVO Sound currently represents the music of artists like PartyNextDoor, Majid Jordan, Kash Doll.

And producers like Boi-1da, Future the Prince, Mike Zombie, and others in addition to Drake. He hosts an annual Drake Night with the Toronto Raptors as the team’s “global ambassador.”

Virginia Black, Drake’s own line of bourbon-based whiskey, was introduced in 2016. Four thousand bottles were sold in the first week the business was open. The company shipped an additional 30,000 units later in the year.

Tours

The “Away From Home Tour” in 2010 was Drake’s debut headlining trek. Through 2019, he started five more headline tours.

Additionally, he has co-headlined four tours, including the one he did in 2018 with the rap group Migos.
His 2016 “Summer Sixteen Tour,” which featured 54 shows and a gross of $84.3 million, was the highest-earning hip-hop tour up to that point.

That equals a concert’s average gross of $1.56 million. In 2018, his Migos co-headlining tour broke it with $80 million in revenue from 43 dates.

The average revenue from a concert is $1.86 million. Every summer, Drake organises the wildly popular “OVO Fest” festival in Toronto.

Drake currently holds a residency at the XS Nightclub in Las Vegas, where he has the potential to make $500,000 for a single performance. For a more formal concert, he now makes more than $2 million.

Relationship of Drake

Over the years, Drake has been in a number of well-known relationships. He had sporadic relationships with Rihanna from 2009 to 2016.

Later, he would call Rihana “the woman I’ve been in love with since I was 22.” Adonis was born in October 2017 to Sophie Brussaux, a French model, actress, and artist. Till 2018, Drake had not acknowledged fatherhood.

Frequently Asked Questions

How Much Money Does Drake Make?

Drake is thought to make more than $20 million per year.

What Is Drake’s Height?

Drake stands 1.83 m tall.

What Is Drake’s Wife’s Name?

Drake is not married to anyone at the moment.